The Daily Dig for Tuesday, June 10

A stellar lineup in today’s Daily Dig, with expansions, investments and hires, all signs of a robust climate.

Bay Area restaurants accepting Bitcoin

One dozen Bay Area restaurants accept Bitcoins, mostly through Bitpay.  Some report one or two purchases each day, reports Jonathan Kauffman.

Crowdentials adds securities expert as growth continues

Corporate securities lawyer Cary Zimmerman  has joined the staff of Crowdentials, a provider of investment crowdfunding software.  J.D. Alois has the details.

Crowdentials CEO Rich Rodman was profiled on Bankless Times.  Click here to learn more. sees crowdfunding potential in India

No matter where you are in the world, education and due diligence are important parts of a successful crowdfunding site. founders Varun Sheth and Kunal Kapoor discuss the challenges of establishing a crowdfunding site in India along with its potential with Shardul Vaidya.

American Express-sponsored documentary profiles America’s unbanked

Some 70 million Americans are unbanked.  American Express officials sought to complete routine financial transactions without using a bank account and were surprised at what they discovered.  It led them to sponsor the film Spent: Looking for Change.  Hadley Malcolm describes the process.

Data-driven approach behind Silicon Valley’s outreach to the unbanked

Many Americans are unbanked because they fall on the wrong side of some arbitrary line established by someone whom they have never met.  This makes credit provision ripe for disruption and companies are using data-based systems to find pockets of credit-worthy people who are solid bets.  Karma Allen investigates.

British P2P currency transfer firm lands heavy hitters in latest investment raise

London-based company TransferWise allows people around the world to trade currencies and eliminate bank transfer fees.  They recently confirmed $25 million from PayPal co-founder Peter Thiel and Richard Branson, and are in talks with Facebook to establish a related service on the social media site.  Mark Scott explains.

Issa counters FDIC claims of non-involvement with Operation Choke Point

In April an FDIC official testified they had no substantial involvement with Operation Choke Point, a program that, in part, pressure banks to sever ties with legal businesses deemed objectionable by the Obama Administration.  Darrell Issa begs to differ.  Read more here.

Payday lenders sue Uncle Sam over Operation Choke Point

Banks who process financial transactions of payday lenders are getting heat from the Obama Administration.  The payday lenders are fighting back and filed a suit late last week.  Patrick Lunsford explains.

U.K. grocery chain unveils current account

U.K. grocery chain Tesco has already grabbed a significant percentage of credit card business away from the banks, and dabbles in mortgages.  They are now seeking to replicate their success with accounts.  It may work, as British society is increasingly discontent with traditional banks, this Reuters report states.

Good primer on U.K. P2P and crowdfunding scene

Regular readers have heard us mention that by looking at what is happening in places like the United Kingdom and Australia we here in North America could be very well looking at our future in peer-to-peer lending and crowdfunding.  This article by James Salmon explains the sentiment behind the growth of these industries across the pond and the results they deliver to borrowers and investors.

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